DoshEX partners with Pundi X to bring PoS crypto card machines to South Africa
DoshEX, the South African cryptocurrency exchange and a global blockchain-based payment pioneer, announced it’s partnering with Pundi X to provide point-of-sale (PoS) cryptocurrency and bring cryptocurrency to street retailers and local consumers in South Africa.
In a first for South Africa’s retail market, DoshEx plans to roll out XPOS, the Pundi X blockchain-based point-of-sale devices and XPASS cards for cryptocurrency transactions at selected sites across South Africa.
Pundi X is a developer of the world’s first point-of-sales (POS) solution enabling merchants and consumers to do transactions on the blockchain in physical stores. Just last week, Pundi X announced its digital asset wallet app- XWallet has surpassed 100,000 registered users. The news announcement came just three months after it was made available for users to connect their regular digital asset wallets to the Pundi X blockchain-based payment ecosystem.
The blockchain-driven point-of-sale technology enables merchants to digitize their payment infrastructure on the blockchain while consumers transact in cryptocurrency in a fast, efficient and convenient manner.
To facilitate payments with those cards, DoshEX also offers a cryptocurrency wallet. The payment company expects XPASS to gain a quick acceptance since it’s similar to existing credit-card, which customers are very familiar with. To create a crypto transaction, all the user has to do is to simply tap XPASS on a XPOS device.
Cryptocurrency transactions within the Pundi X payment ecosystem is a hassle-free method that promotes financial inclusion as XPASS-holders will have their own financial history of the transactions on XPASS card and the associated XWallet app without the necessity for having a bank account. To enable crypto transacting, the XPASS is simply tapped on an XPOS device.
Commenting on the partnership, Zac Cheah, CEO and Co-founder of Pundi X Labs, said: “XPOS is the easy, affordable access point into crypto for mainstream retailers and consumers.” Many big businesses already access the crypto benefits of trusted record-keeping transactions. Now, an XPASS card loaded with crypto enables ordinary people to embrace the crypto-future, including millions of unbanked South Africans.
DoshEX CEO Alex de Bruyn noted: “It was essential to roll out trusted and proven technology as our objective is to rapidly build South Africa’s first point-of-sale cryptocurrency network. This is why we partnered with Pundi X. We believe XPOS will rapidly become your crypto ATM and transaction-enabler at your local coffee shop or high street store.”
Pundi X’s POS device, the XPOS, has been shipped to over 25 countries including Argentina, Australia, Colombia, Korea, Switzerland, Taiwan and the USA; 100,000 devices are being targeted for rollout to the global retail market by 2021. Pundi X is headquartered in Singapore with offices in Jakarta, São Paulo, Seoul, Shenzhen, Taipei, and Tokyo.